A shall have an interest rate that, as of the date on which the loan is made, is equal to the cost of funds to the Department of the Treasury for obligations of comparable maturity;. C may be subject to a deferral in repayment for not more than 5 years after the date on which the eligible project carried out using funds from the loan first begins operations, as determined by the Secretary; and. Not later than 60 days after September 30, , the Secretary shall promulgate an interim final rule establishing regulations that the Secretary deems necessary to administer this section and any loans made by the Secretary pursuant to this section.
Such interim final rule shall require that, in order for an automobile manufacturer to be eligible for an award or loan under this section during a particular year, the adjusted average fuel economy of the manufacturer for light duty vehicles produced by the manufacturer during the most recent year for which data are available shall be not less than the average fuel economy for all light duty vehicles of the manufacturer for model year In order to determine fuel economy baselines for eligibility of a new manufacturer or a manufacturer that has not produced previously produced equivalent vehicles, the Secretary may substitute industry averages.
The Secretary shall, in making awards or loans to those manufacturers that have existing facilities, give priority to those facilities that are oldest or have been in existence for at least 20 years or are utilized primarily for the manufacture of ultra efficient vehicles.
Such facilities can currently be sitting idle. B manufactures ultra efficient vehicles, automobiles, or components of automobiles.
Of the amount of funds that are used to provide awards for each fiscal year under subsection b , the Secretary shall use not less than 10 percent to provide awards to covered firms or consortia led by a covered firm. There are authorized to be appropriated such sums as are necessary to carry out this section for each of fiscal years through The Clean Air Act, referred to in subsec.
For complete classification of this Act to the Code, see Short Title note set out under section of this title and Tables.
Reorganization Plan Numbered 14 of , referred to in subsec. In subsec. Disclaimer: These codes may not be the most recent version. LPO can provide flexible, custom financing to meet specific needs of individual borrowers. LPO offers senior, secured debt and can serve as sole lender, or can co-lend with other financial institutions and provide to bank syndicates flexible debt capacity that can be upsized or downsized depending on syndication strategy.
LPO has experience with a range of borrowers deal structures, including corporate, structured corporate or limited recourse project financings. Treasury rate for the term of the loan with no credit spread. Potential applicants are encouraged to engage directly with LPO for no-fee, no-commitment consultations to discuss their proposed project and learn about LPO's process before formally applying.
Potential applicants may refer to Guidance for Applicants to the Advanced Technology Vehicles Manufacturing Loan Program for more information on preparing an application, and should also review all governing documents on the LPO website.
The Borrower will be required to pay at the time of the closing of the loan a fee equal to 10 basis points 0. In addition to the Interim Final Rule, potential applicants should refer to Guidance for Applicants to the Advanced Technology Vehicles Manufacturing Loan Program for additional guidance prior to formally applying.
Video Url. For more information: What value can LPO bring as a lender to my project? Is my project eligible? What kind of financial terms can LPO provide? What is the process for obtaining a loan? How do I apply? What value can LPO bring as a lender to my project? Even if your company is highly-automated and roboticized, employee performance is still a key component of your success.
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